If beef is what’s for dinner at your house, it’s going to cost you more. Beef prices are the highest they’ve been in 27 years. Fewer cattle, drought and cold weather are all contributing to push prices to an average of $5.04 per pound in January Penny Jernberg, general manager of the 5-8 Club in Minneapolis, says the demand for her restaurant’s trademark juicy Lucy burger is steady, while prices for the main ingredient are climbing.